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Analysis: If Washington Wants to Derail the US Economy, This Is the Way to Do It

August 27, 2013 It looks like we’re going to do this again. Economists estimate the US will reach the debt ceiling of $16.7 trillion at some point in late October or early November. (Update: Treasury secretary Jack Lew now says it will be in mid-October.) But before that, a new budget or an ...

The U.S. Is Cutting its Deficit Faster Than it Ever Has Before

August 12, 2013 The latest US budget statement is due at 2 p.m. ET on August 12, and is expected to show that the US deficit continued to decline in July, falling to a consensus -$90.5 billion. That’s still in the red, to be sure. But it’s worth noting just how sharply US ...

Moody’s Says the US Government Is Now a Super Safe Bet

July 19, 2013 Turns out, if you raise taxes and cut spending, deficits decline. That’s precisely what the US has done over the couple years. It raised both payroll taxes and taxes on high earners at the beginning of the year as part of fiscal cliff negotiations. And it cut spending—messily—with the sequester. ...

How Facebook’s IPO was Bungled by Nasdaq’s Computers

May 30, 2013 FROM NEXTGOV arrow At last, electronic exchange Nasdaq has agreed to cough up $10 million dollars to settle SEC charges related to the bungling of Facebook’s May 2012 IPO. It was an ugly start to Facebook’s career as a public company, and the aftermath hasn’t been much better: Facebook has destroyed more than ...

Google Still Hasn’t Found a Way to Master Mobile

April 18, 2013 FROM NEXTGOV arrow The numbers: Good. The search giant reported net income for the first quarter of $3.35 billion, up 16% from the prior year. Sales, excluding the costs of payments to partner sites for traffic, amounted to $11.01 billion, up about 35% from the same period last year but a bit shy ...

Fitch to U.S.: Debt Ceiling Shenanigans Will Hurt Your Credit Rating

March 1, 2013 This is about as transparent as the credit rating firms get: “The debt ceiling limit which comes back into force on May 19, certainly if that wasn’t addressed in a timely fashion, we don’t think another debt ceiling crisis like we had in August 2011 would be consistent with the ...